Rhode Island commits $30m to Lone Star fund
The Rhode Island State Investment Commission committed $30 million to Lone Star Real Estate Fund IV, a real estate debt fund managed by Lone Star Funds, during its March 25 meeting.
The investment commission manages the $8.5 billion Rhode Island Employees’ Retirement System.
Lone Star Real Estate Fund IV launched this year with a $5 billion target.
A recent investor is the $44.7 billion Teachers’ Retirement System of Illinois, which invested $300 millionin the Lone Star mega-fund.
ERSRI had $254.7 million in real estate assets as of December 2014. The retirement system has a target real estate alloca